Tuesday, February 05, 2013

This is from Meet The Press two
Sundays ago, but they just put up the transcript, and it seemed worth
noting.

Noted economist and Village Elder Bob Woodward sums up
Beltway conventional wisdom, which is that if we cut entitlements and 'stabilize' the debt, it will lead to economic growth and and
lower unemployment.

Bob Woodward:

They are just saying, let’s fix a
little bit on the entitlement front, and they’re not saying let’s
start tomorrow cutting. They’re saying, let’s start in 5 years or
10 years. It is all doable and fixable.

And then this gets to the engine of
the economy. And if you fix that, if you stabilize the debt in some
reasonable way, we’re going to have growth. The unemployment rate
should come down.